Uruguay says it has taken 600,000 tons of cotton to rescue the global cotton market

Uzbekistan, the world's third-largest cotton exporter, has recently announced the sale of 600,000 tons of cotton for this season, capitalizing on rising global prices. The country’s Ministry of Foreign Economic Relations confirmed that Uzbekistan has already secured contracts for this year’s cotton production, signaling a strong performance in the international market. At the annual cotton trade fair, Prime Minister Shavkat Mirziyayev highlighted the success of the nation’s latest harvest and expressed confidence that cotton exports could generate up to $500 million this year. Despite these gains, the government is shifting its focus toward boosting domestic processing. Mirziyayev emphasized that Uzbekistan aims to increase local cotton processing to 70% by 2015, reducing reliance on raw cotton exports. This strategic move is intended to enhance value addition and strengthen the national textile industry. The majority of Uzbek cotton is exported to China, Bangladesh, Iran, Pakistan, and Russia. With an expected production of 1.1 million tons of cotton fiber this year, the country continues to play a significant role in the global cotton market. As one of the world’s top six cotton producers, Uzbekistan typically produces around 3.5 million tons of raw cotton annually, with approximately 1.2 million tons processed into fiber. This shift in policy reflects a broader effort to modernize the sector and secure long-term economic benefits.

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